Azimuth Capital Investment Management LLC Sells 1,759 Shares of Thermo Fisher Scientific Inc. $TMO

Key Points

• Azimuth Capital reduced its Thermo Fisher stake by 7.3% in the second quarter, selling 1,759 shares and retaining 22,225 shares valued at approximately $11.14 million.
• Thermo Fisher reported strong quarterly results, with EPS of $6.03 and revenue of $11.99 billion, exceeding analyst expectations; revenue increased 10.5% year over year.
• Analysts remain broadly positive, assigning the stock a “Moderate Buy” consensus rating and an average price target of $619.41. The company also declared a quarterly dividend of $0.47 per share.

Azimuth Capital Investment Management LLC decreased its stake in shares of Thermo Fisher Scientific Inc. (NYSE:TMO - Free Report) by 7.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 22,225 shares of the medical research company's stock after selling 1,759 shares during the period. Azimuth Capital Investment Management LLC's holdings in Thermo Fisher Scientific were worth $11,143,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the stock. J. Stern & Co. LLP boosted its holdings in shares of Thermo Fisher Scientific by 58,006.4% during the fourth quarter. J. Stern & Co. LLP now owns 31,509,332 shares of the medical research company's stock worth $18,258,082,000 after acquiring an additional 31,455,105 shares during the period. BlackRock Inc. acquired a new stake in Thermo Fisher Scientific during the 2nd quarter worth approximately $15,501,867,000. Corient Private Wealth LP acquired a new position in Thermo Fisher Scientific in the 2nd quarter valued at $382,547,000. Norges Bank bought a new position in Thermo Fisher Scientific during the 4th quarter worth $3,072,744,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Thermo Fisher Scientific in the second quarter valued at about $1,974,561,000. 89.23% of the stock is owned by institutional investors.

Insider Transactions at Thermo Fisher Scientific

In related news, EVP Michael D. Shafer sold 25,500 shares of Thermo Fisher Scientific stock in a transaction that occurred on Tuesday, August 11th. The shares were sold at an average price of $600.00, for a total transaction of $15,300,000.00. Following the sale, the executive vice president directly owned 20,994 shares of the company's stock, valued at approximately $12,596,400. The trade was a 54.85% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Gianluca Pettiti sold 400 shares of the company's stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $565.00, for a total transaction of $226,000.00. Following the transaction, the chief operating officer owned 24,651 shares of the company's stock, valued at approximately $13,927,815. This represents a 1.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 73,768 shares of company stock valued at $44,122,820. Company insiders own 0.33% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Piper Sandler raised their price target on shares of Thermo Fisher Scientific from $510.00 to $600.00 and gave the stock a "neutral" rating in a research report on Monday, July 27th. Evercore set a $570.00 target price on shares of Thermo Fisher Scientific in a research report on Monday, July 6th. Royal Bank Of Canada raised their target price on shares of Thermo Fisher Scientific from $490.00 to $580.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Weiss Ratings upgraded shares of Thermo Fisher Scientific from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 28th. Finally, Morgan Stanley increased their price target on Thermo Fisher Scientific from $620.00 to $650.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Two analysts have rated the stock with a Strong Buy rating, seventeen have given a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $619.41.

Thermo Fisher Scientific Stock Performance

NYSE TMO opened at $612.75 on Friday. Thermo Fisher Scientific Inc. has a 1 year low of $435.27 and a 1 year high of $647.00. The firm has a market capitalization of $226.56 billion, a price-to-earnings ratio of 32.96, a P/E/G ratio of 2.57 and a beta of 0.85. The company has a current ratio of 1.55, a quick ratio of 1.18 and a debt-to-equity ratio of 0.74. The firm's 50 day simple moving average is $570.91 and its 200 day simple moving average is $515.10.

Thermo Fisher Scientific (NYSE:TMO - Get Free Report) last released its earnings results on Thursday, July 23rd. The medical research company reported $6.03 earnings per share for the quarter, topping the consensus estimate of $5.71 by $0.32. Thermo Fisher Scientific had a return on equity of 17.09% and a net margin of 15.04%.The firm had revenue of $11.99 billion during the quarter, compared to analysts' expectations of $11.71 billion. During the same period in the prior year, the company earned $4.28 earnings per share. The company's quarterly revenue was up 10.5% on a year-over-year basis. Thermo Fisher Scientific has set its FY 2026 guidance at 24.930-25.330 EPS. As a group, research analysts expect that Thermo Fisher Scientific Inc. will post 25.13 earnings per share for the current fiscal year.

Thermo Fisher Scientific Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Tuesday, September 15th will be paid a $0.47 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $1.88 annualized dividend and a yield of 0.3%. Thermo Fisher Scientific's dividend payout ratio (DPR) is 10.11%.

Thermo Fisher Scientific Company Profile

Thermo Fisher Scientific NYSE: TMO is a global provider of scientific instrumentation, reagents and consumables, software, and services that support research, clinical, and industrial laboratories. The company supplies analytical instruments and laboratory equipment, life sciences reagents and kits, specialty diagnostics, and a broad range of consumables used by researchers, clinicians, and manufacturers. Its offerings also include laboratory information management and data-analysis software, as well as service solutions such as instrument maintenance, validation, and logistics that help customers run complex workflows efficiently.

Thermo Fisher operates through multiple business areas that broadly cover life sciences solutions, analytical instruments, specialty diagnostics, and laboratory products and biopharma services, including contract development and manufacturing for pharmaceutical and biotechnology companies.

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